12 measures to support SMEs
Print Edition
1. Housing rent exemption
Small and medium-sized enterprises operating in the workplaces run by state-owned enterprises are eligible to rent exempt for two months. The SOEs are encouraged to reduce, exempt or delay rent for SMEs. The office buildings, innovation parks and incubators who offer rent discounts to SMEs will enjoy supportive policies from the government.
2. Labor costs reduction
Employers who did not lay off or reduce staff during the epidemic can apply for a return of half of the total unemployment insurance premiums paid in the previous year. Employers organizing online vocational training can apply for a subsidy of 95 percent of training costs.
3. Labor relations stabilization
Timely policy counseling and other services are offered for SMEs strongly affected by the epidemic. They are guided to adjust salary or stagger working periods to get through difficult times. Employees infected with COVID-19 can get covered by a serious illness insurance.
4. More talent housing subsidies
SMEs will receive a three-month housing subsidy to retain their talent. Each professional can receive a monthly housing subsidy of 800 yuan (US$112.52).
5. Prolonged tax declaration
Those affected by coronavirus can apply to prolong their tax declaration to February 24.
6. Tax reduction
Companies whose estates or lands were taken over by the government for anti-epidemic campaign can apply to reduce or exempt real estate and land usage taxes.
7. Increased credit support
Banks and other financial institutions are encouraged to increase credit lines and give preferential interest rates to SMEs. Deferred repayments, reduction of interest rates and credit protection can be offered to SMEs in difficulties.
8. Differentiated financial services
Financial institutions and organizations are urged to offer differentiated and innovative guarantee methods, quotas, duration and credit process for companies in key regions and industries.
9. Financial support for policy-guaranteed loans
The local government will connect with the city’s financing guarantee fund management center to ask for stronger support for SMEs.
10. Quick policy support funds
Eligible SMEs, such as those in Putuo’s key industries known as the “3+5+X sectors,” can apply for supportive funds from the government and get the fund more quickly.
11. Strengthened company services
District leaders are visiting SME counterparts to help solve problems due to the epidemic. They also help companies resume operations, receive masks, disinfectants and other anti-epidemic materials.
12. Optimized business environment
The district will avail services more widely on the “one-stop platform” and promote the remote electronic registration services.
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